The New Zealand dollar dropped today, joining other commodity-geared currencies in decline, driven down by domestic macroeconomic data as well as the general risk-averse market sentiment. The seasonally adjusted BusinessNZ Performance of Manufacturing Index fell from 54.4 to 53.4 in February. Still, the index was above …
The Australian dollar fell along with other commodity currencies today amid concerns about the planned tariffs in the United States that may hamper global growth. Most economists believe that protectionism is detrimental to economy. Therefore, the prospect for trade wars led to concerns …
The Canadian dollar dropped against its most-traded rivals today. That was puzzling considering that the employment report released during the trading session was good and crude oil prices rose. Automatic Data Processing reported that non-farm employment in Canada increased by 32,676 …
The US dollar gained against the basket of major currencies today (though fell versus the Japanese yen) amid speculations that the Federal Reserve is going to raise interest rates next week. Positive macroeconomic data also provided support to the US currency. With the unexpectedly …
The Norwegian krone rallied today after the nation’s central bank kept its monetary policy without change but hinted at a possibility of an interest rate hike in the near future. The Norges Bank maintained its key interest rate at 0.5%, making no surprise. Unlike the Swiss …
The Swiss franc slipped today after the nation’s central bank kept monetary policy unchanged and showed not intention to tighten its unconventional accommodative policy. The Swiss National Bank kept its interest rates unchanged in the negative territory, in line with market expectations. The central …
The GBP/USD currency pair declined after news emerged that the UK government had expelled 23 Russian diplomats following the poisoning of a Russian ex-spy. The currency pair traded choppily today as it had spiked higher following the release of the US advance retail sales data, …
The euro today dropped to new lows against the US dollar following the ECB President Mario Draghi‘s dovish comments during a speech in Frankfurt. Mixed releases from the Eurozone such as Germany’s Consumer Price Index for February could not reverse the euro’s decline. The EUR/USD currency …
The Australian dollar climbed against its most-traded peers today after the release of macroeconomic data, both domestic and in China. The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.2% in March from February following the 2.3% drop last month. Westpac Senior Economist, Matthew …
The Swedish krona rose today after the report that showed inflation remained stable in Sweden last month. Statistics Sweden reported that the Consumer Price Index with a fixed interest rate rose 1.7% in February year-on-year, the same as in January, and 0.7% month-over-month. The biggest contributors …